Gill Pratt, chief executive officer of Toyota Research Institute, speaks at the 2016 Consumer Electronics Show in Las Vegas in January 2016.David Paul Morris/Bloomberg

Toyota established a $1 billion Silicon Valley beachhead when it created the Toyota Research Institute in 2015 to focus on next-generation mobility, robotics and advanced materials. Now it’s furthering that effort with a dedicated venture fund focused on innovative startups working on complementary tech solutions.

The automotive giant on Tuesday launched Toyota AI Ventures, with initial funding of $100 million. The first three companies its backing are Israel-based Intuition Robotics; SlamCore of the U.K.; and Nauto, a Silicon Valley-based firm. Along with cash, Toyota Research Institute, or TRI, will provide also provide mentoring and basic engineering support at its headquarters in Los Altos, California, headquarters, the company said in a statement.

The move is the latest step in a broad convergence of the auto and tech industries that’s unfolded over the past few years. Each side has what the other lacks: auto companies have expertise in large-scale manufacturing, mechanical engineering and regulatory areas, while tech firms bring cutting-edge software and the ability to create and manage large data platforms. And in the case of Toyota in particular, it has the benefit of very deep pockets.

“TRI is growing quickly and we recognize the critical importance of expanding our collaboration with the world’s brightest entrepreneurial talent,” Gill Pratt, TRI’s CEO, said in a statement. “This venture is a major step towards our mission to empower talented entrepreneurs who share Toyota’s commitment to enhancing the quality of human life.”

Unlike conventional VCs that rely on unsolicited pitches from startups, Toyota AI Ventures is using a “call and response” model, by identifying issues it’s particularly interested in solving and backing companies deemed to have viable solutions. The goal is to accelerate the pace of getting critical new technologies to market.

“We don't have all of the answers,” Jim Adler, TRI’s vice president of data and business development and managing director of Toyota AI Ventures, said in a statement. “A lot of disruptive technologies come from startups and we want to help them be successful.”

Intuition Robotics specializes in “social companion” technology, robotic systems designed to assist the aging. TRI said it participated in Intuition Robotics’ Series A financing in May that raised $17 million.

SLAMcore creates algorithms that help platforms for autonomous cars, drones and augmented reality/virtual reality systems create maps of their surroundings and position themselves within it. TRI invested an undisclosed amount of funds into the company’s seed financing round in March.

Palo Alto, California-based Nauto provides cloud-based technology for monitoring truck and other professional drivers, with a goal of preventing collisions and improving driver behavior, as well as sharing road data via AI-enabled sensors. TRI said it was an investor in Nauto’s Series A funding round in August 2016, which raised $12 million.

I write about technology-driven changes that are reshaping transportation and cities from Los Angeles, the U.S. capital of cars and congestion. I've covered global automakers, advanced vehicle tech and environmental policy for two decades, including 15 years with Bloomber...